SBA Loans for Small Businesses – The U.S. Small Business Administration (SBA) today approved Governor Mills’ application for SBA Economic Injury Disaster Loans to help Maine businesses overcome any temporary loss of revenue due to the novel coronavirus, otherwise known as COVID-19. Maine is one of the first states in the country to be approved, and Maine small business owners can now begin applying for these loans. Less than $25,000 does not require collateral.
announced on March 23rd that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. Taxpayers can also defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. This deferment applies to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax filers as well as those who pay self-employment tax. Read more here
IRS and the U.S. Department of Labor announced that small and midsize employers can begin taking advantage of two new refundable payroll tax credits, designed to immediately and fully reimburse them, dollar-for-dollar, for the cost of providing Coronavirus-related leave. See more HERE
Maine Revenue Services – the State will extend the deadline for Maine income tax payments from April 15, 2020 to July 15, 2020. The change aligns with the Federal government’s recent extension of the Federal tax filing deadline to July 15, 2020. For questions about Maine income tax, contact Maine Revenue Services (MRS) at (207) 626-8475 or visit the MRS website at www.maine.gov/revenue.
The Retail Assoc. of Maine has shared a specific page they assembled that pulled together the relevant resources that they gathered to date. They plan to update it every day and will date the new information so you can easily find it. Retail Assoc of Maine
SCORE Mentor contacts will not be face-to-face, but can continue through other means. See the advisory from Belfast SCORE here. As always, you can request a SCORE initial discussion by going to our Belfast SCORE page.
In addition, SCORE is offering live and recorded webinars (in-person workshops have been suspended until further notice). Whether you need help figuring out finances or managing staffing situations, SCORE mentors are here for you.
Legal Guidance on COVID-19 Advice and FAQs are available online from Burnstein Shur
For Non-Profits, United Midcoast Charities has established a Rapid Response Fund that will funnel 100% of all donations received as support to local nonprofits that are meeting the immediate needs of individuals seeking help in Knox and Waldo counties. The fund is intended to provide stopgap support and anticipates the likelihood that local nonprofits will find themselves under-resourced to serve a growing demand for their services. Donations are now being accepted toward this fund HERE.
Where to eat, play, stay and just hang out. A great resource for finding out what’s happening and what’s special about visiting and living in Waldo County. It’s all here in the 2020 Belfast & the Wonders of Waldo County magazine—the official publication of the Belfast Area Chamber of Commerce!